05.
The ongoing fossil fuel
phase-out

The ongoing fossil fuel phase-out

COP28 saw the first full assessment of our global progress in reducing greenhouse gas emissions and, as expected, targets had not been met.

However, last year’s conference did result in some outcomes that could help address this, including a pledge to triple renewable power capacity and double energy efficiency by 2030. And, perhaps most importantly, the agreement for a global shift away from fossil fuels.

This, for many, signalled the beginning of the end of the fossil fuel era, which UN secretary general Antonio Guterres said had “humanity by the throat”.

In reality, global progress on this issue has been stilted, but it is once again on the agenda for COP29. And some countries have made meaningful progress.

In September this year, the UK closed its last coal-fired power plant, ending a 142-year stretch of burning coal to generate electricity.

As the first global power to own a coal-fired power station, the UK being the first to decommission them all is meaningful – and can prove to other nations that a rapid phase out of fossil fuels is achievable.

But it’s important to look at what enabled it…

This milestone was only achievable because of clear decarbonisation goals, investment in alternative energy sources and timelines imposed by the government that have allowed companies to make plans and explore viable alternatives.

Not all countries will be in this position, so the UK can be an exemplar of success at this year’s COP.

For those operating in the UK, this clear change in direction is a good sign of future intentions. It also shows that exploring clean energy sources now can help you stay one step ahead of any future policy changes – and take advantage of clean energy incentives when they arise.